Global Financial Crisis: Techies Silver Lining

A friend and I were talking about upgrading our pc and hopefully get a new digital camera this Christmas. We both got this funny feeling that this is the right time to buy high tech gagdets because of the global financial crisis (GFC). When US dollars dropped to 45 Philippine pesos to a dollar last year, I took advantage of it and bought my dream mobile phone because it’s priced dropped 20%, thanks to my bargaining skills too. I was in heaven and I loved my phone.

The silver lining is that IT companies will have no choice but to lower selling prices of their products because disposing them at the time of the GFC will be tough. They’d rather have a break even than to go bankrupt. On the other hand, if this crisis continues, companies and factories will close and developing/improving/creating new gadgets will be a little bit slower because there is not a lot of money at hand to finance them. Consumers might be happy today but Technology will suffer eventually and then … us.